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Re: From The Estate: Colony Capital To Sell Neverland Ranch

That really sucks. I thought that the Estate had a bigger stake in the place than Colony Capital, or maybe I'm not understanding something here? Sad. It should go to Michael's kids. I hope eventually they will be able to buy it back.

Re: From The Estate: Colony Capital To Sell Neverland Ranch

I can't believe it, it's the saddest news in years ( This is one item that OUGHT to belong to Michael. And they owed it to him to sort it out. Buy it back, resolve restrictions, I don't care what and how, but keep it as a historic landmark. I can't freaking believe it...

Now let's hope Lady Gaga buys it and opens a museum. She seems to understand more about the importance of artifacts than those officially responsible for maintaining Michael's legacy.

Re: From The Estate: Colony Capital To Sell Neverland Ranch

Michael may have not wanted to reside at Neverland again however; he fought hard to keep his asset which became part of his legacy like the Sony/ATV catalog. Not all aspects of Michael’s legacy are profitable as is true with all human beings. Not all aspects of Michael’s legacy involved music that can be characterized as profitable.

Neverland would also be considered an asset to the Estate if purchased outright. Expenses would include maintenance as is with property anyone owns. No one knows what the children would have done with the property as it would have been their right to leave it vacant or use it in a residential manner. That residential land should have been secured for Michael’s children to do what they pleased with it. At least Hayvenhurst was spared.

Originally Posted by Justthefacts

unless you have money to burn on an empty property you are in no position I say what they should be doing with the ranch

Are you addressing me? It is my view and I am allowed to state it. Michael's Estate could afford the property. Unfortunately, it would not be re-zoned as a commercial property with the promise of potential income so they lost interest in keeping Neverland.

Re: From The Estate: Colony Capital To Sell Neverland Ranch

I do not understand how can it not be considered suitable to be a museum [be it location-wise of whatever] as hundreds of people throughout the 90s visited and enjoyed the ranch. This is absolutely heartbreaking, considering the importance of Neverland to MJ's life, philosophy and history.

"What though the radiance
Which was once so bright
Be now for ever taken from my sight.
Though nothing can bring back the hour
Of splendour in the grass,
Of glory in the flower,
We will grieve not, rather find
Strength in what remains behind." ~ W. Wordsworth

Re: From The Estate: Colony Capital To Sell Neverland Ranch

Originally Posted by Tygger

Please re-read the statement in the opening post. No mention of Tohme. It is exactly as I quoted it.

they said an agreement negotiated during Michael's lifetime gave Colony the rights to sell Neverland. If anything they blamed the agreement not Michael. The knowledgeable fans who follow lawsuits know that the negotiated deal has been the topic of Estate vs. Tohme lawsuit in which Estate openly blamed Tohme for bringing an unfavorable deal to MJ and MJ signing the deal without independent counsel. so "Michael's fault" is your biased interpretation of what was being said. Now in your quest to portray Estate negatively you can choose to ignore the very important piece of information from Tohme lawsuit. I can't say I'm surprised.

and I'll do a reminder for the other people

May 2008 Tohme and Michael signs a finder's agreement for Tohme introducing Michael to Colony Capital.
- Estate alleges that Tohme didn't tell Michael that he had a pre-existing relationship with Colony Capital.
- According to the finder's fee agreement : Michael was to give Tohme 10% of the loan amount ($2.4M), 10% from the future sale of Neverland and 10% from any future transactions with Colony Capital.
- Estate claims Michael didn't have an independent lawyer and signed the finder's fee agreement without fully understanding and getting independent explanation of it.
- Estate says Michael signed the agreement because he trusted Tohme and believed the finder's fee amount was normal and customary. Estate argues that these amounts are too high.
- Estate says Tohme had conflicting roles - working as a finder and working as the manager of Michael.
- Estate states that the Neverland deal done with Colony Capital was highly unfavorable for Michael. It limited his use and control of Neverland and had unfavorable financial terms.
- Estate says as Tohme had ties and interest in regards to Colony Capital, he didn't look for better and more favorable financing options for Neverland. (Estate says that they believe other better options were available)
- Estate says Michael signed the Neverland / Colony Capital agreement without having counsel independent from Tohme and not subject to Tohme's control and authority.

it should be quite obvious now whose fault Estate thinks Neverland deal is.

Re: From The Estate: Colony Capital To Sell Neverland Ranch

Now let's hope Lady Gaga buys it and opens a museum. She seems to understand more about the importance of artifacts than those officially responsible for maintaining Michael's legacy.

Zoning change is not that easy. and believe me even if Lady Gaga or whomever you think to be perfect buys it they would not be magically able to change zoning and open museums and such.

Even in 2009 CC tried to get a permit for burial and a memorial and even back then it was reported that even neighbors were against even such permits or any zoning change. It's a country side, a residential area with ranches etc. It doesn't have the infrastructure to handle heavy traffic and it doesn't seem like zoning or restrictions would change.

I'm going to quote another user from another board about zoning

Originally Posted by smoothmel

Zoning establishes the legal purpose and use of land. The NLVR is in an area that is used to raise horses animal grazing. His own ranch had grazing rights. It's also residential and rural. The road the ranch is on is a narrow two lane strip with tons of horses and farmland. The environmental fight those residents would launch would not be worth it, not to mention how they would keep this tied up in court for twenty years.

Re: From The Estate: Colony Capital To Sell Neverland Ranch

I don't care what the problems around the ranch were, to be honest, all I know is they failed Michael and his legacy by failing to resolve those problems. The significance of the place for all the good and bad that'd happened there is enormous, the place is a memorial to human magic and the humankind cruelty. Selling it feels to me like saying that it didn't matter. That's all.